It staged a strong comeback after the last launch in 2004. Since then, supply is set to double and more. The total EC units under construction including recent land sales, launched in less than 2 years, is now about the same as the existing completed supply, where it took over 10 years to sell and build.

An Executive Condominium (EC) is essentially a hybrid between a private property and a HDB flat. New units come with ownership and resale restrictions such as a household income of not more than $12,000 and a Minimum Occupation Period (MOP) of five years. During the 6th to 10th year after completion, units can be sold to Singaporeans or PRs with no family nucleus requirements (Partially Privatised). After 10 years, all restrictions are lifted (Privatised). On the positive side, buyers are eligible to certain grants.

Against this backdrop, new EC units are currently sold at about 20-30% discount compared to nearby new private properties. We expect the discount to start narrowing once the units are allowed to be sold after the 5-year MOP, and eventually priced like private properties once they cross the first 10-year period. See two examples below where this is true. We have picked a pair of properties (one EC and one private property) in each case with the same tenure, same completion date, and approximately the same distance away from the area's main amenity, the MRT station.

While an EC might be a good option for genuine owner-occupied buyers who are prepared to stay for at least 5 years, do take note that generally, the construction cost (may reflect the quality of the project) for an EC tends to be 20% lower than that of a private property.

A list of all the ECs is given below. More than half of the completed ECs have been fully privatised. Most of the other half are in their 6th to 10th year. La Casa remains the only EC currently that has yet to cross the initial 5-year MOP. This is due to a vacuum period of about 6 years (2004 - 2010) with no new EC developments. The priciest EC is Bishan Loft, where units have crossed the $1,000 psf mark.

AVERAGE PRICES AND RENTS OF EXECUTIVE CONDOMINIUMS

Note: *Prices and rentals are based on data in the past 6 months.
Source: www.squarefoot.com.sg

PROJECT	TENURE	COMPLETION	LOWEST PRICE* ($PSF)	AVERAGE PRICE* ($PSF)	HIGHEST PRICE* ($PSF)	LOWEST RENTAL* ($PSF PM)	AVERAGE RENTAL* ($PSF PM)	HIGHEST RENTAL* ($PSF PM)
EASTVALE	99 YRS FROM 1996	JAN 1999	812	874	912	0.9	2.8	4.4
WESTMERE	99 YRS FROM 1996	FEB 1999	861	861	861	1.6	2.7	3.3
CHESTERVALE	99 YRS FROM 1997	MAR 1999	633	710	754	2.0	2.1	2.2
SIMEI GREEN CONDOMINIUM	99 YRS FROM 1996	APR 1999	692	829	955	2.2	2.9	3.6
PINEVALE	99 YRS FROM 1997	JUL 1999	706	771	812	2.1	2.5	2.9
WINDERMERE	99 YRS FROM 1997	SEP 1999	673	686	718	2.1	2.4	2.6
THE FLORIDA	99 YRS FROM 1997	FEB 2000	690	782	843	2.3	2.6	3.0
THE RIVERVALE	99 YRS FROM 1997	JUN 2000	720	795	873	2.2	2.5	3.0
WOODSVALE	99 YRS FROM 1997	AUG 2000	678	704	729	2.0	2.4	3.5
YEW MEI GREEN	99 YRS FROM 1997	SEP 2000	697	760	787	1.9	2.5	3.1
SUMMERDALE	99 YRS FROM 1997	SEP 2000	784	796	818	2.3	2.8	3.3
NORTHOAKS	99 YRS FROM 1997	OCT 2000	507	705	754	2.2	2.4	2.9
THE FLORAVALE	99 YRS FROM 1997	OCT 2000	631	734	817	2.2	2.6	3.3
LILYDALE	99 YRS FROM 2000	MAR 2003	703	741	774	2.5	2.7	3.0
THE EDEN AT TAMPINES	99 YRS FROM 2000	APR 2003	762	837	937	2.3	2.8	3.5
THE DEW	99 YRS FROM 2000	JUL 2003	821	906	1,008	2.6	2.8	3.0
BISHAN LOFT	99 YRS FROM 2000	SEP 2003	1,085	1,130	1,198	3.1	3.5	4.3
NUOVO	99 YRS FROM 2001	AUG 2004	897	948	1,054	2.7	2.9	3.4
PARK GREEN	99 YRS FROM 2001	SEP 2004	800	844	929	2.7	2.9	3.0
WHITEWATER	99 YRS FROM 2002	JAN 2005	782	838	908	2.5	2.8	3.2
THE ESPARIS	99 YRS FROM 2002	JUN 2005	801	815	828	2.2	2.6	2.9
THE QUINTET	99 YRS FROM 2003	OCT 2006	707	834	890	2.4	2.6	3.1
THE QUINTET	99 YRS FROM 2003	OCT 2006	-	-	-	-	-	-
LA CASA	99 YRS FROM 2004	FEB 2008	736	805	905	2.0	2.7	3.2
ESPARINA RESIDENCES	99 YRS FROM 2010	UNCOMPLETED	864	878	891	-	-	-
THE CANOPY	99 YRS FROM 2010	UNCOMPLETED	697	703	709	-	-	-
PRIVE	99 YRS FROM 2010	UNCOMPLETED	779	802	825	-	-	-
AUSTVILLE RESIDENCES	99 YRS FROM 2010	UNCOMPLETED	-	-	-	-	-	-
BELYSA	99 YRS FROM 2011	UNCOMPLETED	-	-	-	-	-	-
RIVERPARC RESIDENCE	99 YRS FROM 2010	UNCOMPLETED	-	-	-	-	-	-
BLOSSOM RESIDENCES	99 YRS FROM 2011	UNCOMPLETED	-	-	-	-	-	-
ARC AT TAMPINES	99 YRS FROM 2011	UNCOMPLETED	741	783	868	-	-	-
THE TAMPINES TRILLIANT	99 YRS FROM 2011	UNCOMPLETED	665	769	852	-	-	-
THE RAINFOREST	99 YRS FROM 2011	UNCOMPLETED	-	-	-	-	-	-
WATERBAY	99 YRS FROM 2012	UNCOMPLETED	556	721	794	-	-	-
TWIN WATERFALLS	99 YRS FROM 2011	UNCOMPLETED	665	754	836	-	-	-
1 CANBERRA	99 YRS FROM 2012	UNCOMPLETED	567	719	791	-	-	-
WATERCOLOURS	99 YRS FROM 2012	UNCOMPLETED	588	728	804	-	-	-
HERON BAY	99 YRS FROM 2012	UNCOMPLETED	608	727	800	-	-	-
THE TOPIARY	99 YRS FROM 2012	UNCOMPLETED	613	731	821	-	-	-
CITYLIFE@TAMPINES>	99 YRS FROM 2012	UNCOMPLETED	470	796	930	-	-	-
TWIN FOUNTAINS	99 YRS FROM 2012	UNCOMPLETED	665	742	809	-	-	-
FORESTVILLE	99 YRS FROM 2012	UNCOMPLETED	608	733	802	-	-	-
LUSH ACRES	99 YRS FROM 2013	UNCOMPLETED	800	800	800	-	-	-
ECOPOLITAN	99 YRS FROM 2012	UNCOMPLETED	790	793	796	-	-	-